Mitchell E. Fadel
Daniel, Thank and everyone. joining for morning, us. you, Thank good you
the our considerable I been past has diligently few the has been on progress pleased months, am made. executing Over and company to initiatives strategic say
last on controllable around of built addressing As near-term aggressively I is strategy number call, to and our cash a drive profitability flow. items mentioned our
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free implemented in performance, the our April. a Regarding quarter the This and bottom most or line the of improvement, not even $XX in generated approximately million million is cost EBITDA initiatives quarter, approximately were in significant until first $XX company late and adjusted even flow. into in savings cash
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responsibilities be to expected Core collection the rent annual the from expected rate $XX Core, closed were the centers our since to the this expense are very the of and savings stores, were are three business cash approximately related supply that and reduction of AcceptanceNOW in transferred net and ways. initiatives, increased coworkers, nearby we returns The Minimal inventory million minimal are locations. year. the to vehicle During store with expense Also March, to chain added labor over all to in low. other impact Core around our realized centers the run AcceptanceNOW $XX hours million, flow in profit of our moves made generate collection
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third-party decision using to we're centers model a going we product believe and move to our our service the non-disruptive own be distribution as basically We augmented the will We a also made change back for seamless, way this did direct-to-store years. it to by back exit centers.
result in to we year. Now, benefit ways. this a $XX $XX this that reduction about half realized will second, incur will we'll DCs. working two in help with elimination those about goods the million One, estimate And, and savings, this about million of due of additional capital cost capital of annualized third-party us of one-time in run rate working
annualized from sitting product up store based impacts for we free centers, capital optimization we realized to the pay of now of for management: DCs. working about rate changes; in on we distribution with the right-sized we this million, our XX $X million XXXX. the inventory; that our quarter three product initiatives chain supply last implemented So in service in product point resulting the routes savings run $X less inventory and the on The is
annual about realized plan $XX ahead in the with chain cost supply $XX up million add working year, two-thirds you are million $XX million. million the up now We is of opportunities. benefits to benefits this chain all and and to year's $XX of our XXXX when supply our those range, savings savings working capital company cost million of that now Overall, between being $XX in additional of to expect So to million initiatives, the $XX enhancing initiatives. $XX million on this in the capital $XX million we just EBITDA in to be with
annual $XXX you numbers, is range add number the cost working savings when the up adding to million. plan the in of to So million to a this capital $XXX
our for the we quarter. raising yet enhancing we're numbers, earnings first So estimates consensus missed the EBITDA
suffice good ground. is about really obviously, So, a different our But profit bit analysts. feel we're than our is another say, to gaining running and are of it earnings franchising spread where that heading. our business is plan our the numbers of ahead Growing initiative
on franchisee During size transaction strategic proceeds as utilize an The in an to and refranchise company completed agreements pending with opportunity as formally large pursue We'll improve stores refranchising of locations. development existing underperforming XX through presence sale brand to company in the plan there for XXX franchise our approximately is partnering review transaction. a franchise with balance Core marketing quarter, enables as interested grow potential our franchisees us XXXX. opportunity, increasing the rationalization and Rent-A-Center Without the outcome sheet. the to maintain stores of number first of similar of store our closing refranchise the continue the the a opportunities well to
like profitability alternatives ongoing, to all for to and to cash more all thank the the were made help also building our of quarter forward turn look lot business is position for from for and and contributions our customers every great first opportunity to While better I'd they believe to flow out improve process of their significant changes necessary a and the the remains performance do in to continue company. and long-term company review strategic there around opportunity our growth our strongly on co-workers the the I profitability. day. have the to momentum we
Maureen walk the will quarter. the for financials through Now first
